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The causes of global financial crisis in 2008 conclution
The causes of global financial crisis in 2008 conclution
The financial crisis of 2007-09
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My central argument is financial crisis in developing countries. I am going to argue that developing countries need more funding and the ways other countries could help developing countries improve financially. The types of arguments I would use to support my claim is proposal argument and argument of fact. For example, proposal argument simply follow the problem-solution method to give a description of the existing problem, however, argument of fact when the author wants to challenge or change people’s beliefs. I choose both of those arguments, because both arguments gives readers a clear view of what I plan to accomplish. Financial crisis is a an problem every country faces. Unfortunately, developing countries faces financial crisis the most. …show more content…
Furthermore, financial crisis plays a huge role in impacting the economy, according to Dirk Velde, “the economic impacts could include weaker export revenues, lower investments and growth rates, lost employment” (Velde, 2008). In addition, financial crisis impacts the social life of citizens, causing citizens to be mentally and emotionally drained. For example, Velde also states, “there could be social effects…lower growth translating into higher poverty, more crime, weaker health systems and even more difficulties” (Velde, 2008). However, studies have shown that there are ways developing countries could overcome their financial crisis. In better words, developing countries could cut down on their spending and reduce the number of trades, are two ways developing countries could overcome their financial crisis. Luckily, other countries could help developing countries prosper as well. According to Nancy Birdsall, Dan Rodrik, and Aevind Suramanian
...n will definitely provide a better economy for these third world countries, but the only draw back is that it will not be a short-term effect. Lastly McFague in her essay provides a reasonable solution of ecological economics where everybody on one accord forgets their self-interest and understands that everyone is dependent upon each other. In the end no solution will work unless both categories of economic countries understand their position and begin to work together.
report of the national commission on the causes of the financial and economic crisis in
An explanation is a set of statements constructed to describe a set of facts which clarifies the causes, contexts, and consequences of those facts. This description may establish rules or laws, and may clarify the existing ones in relation to any objects, or phenomena examined. The first piece Bush Remarks Roil Debate over Teaching of Evolution written by Elizabeth Bumiller, is an explanation. Bumiller addresses her points using facts rather than opinions, she also says, “Recalling his days as Texas governor, Mr. Bush said in the interview, according to a transcript, “I felt like both sides ought to be properly taught.”(2), this signifies that this is an explanation and not an argument since he sees both sides instead of choosing one. For
On December 2,2015 I went to to the Lynnhaven building to receive some feedback on my agreement paper for English 111. It was a very rainy day after running through the rain when I reached the writing center room. There was a yellow note saying that the writing center was in the student center until December 4,2015. After reading the note I ran back in the rain to my car.It was to cold to walk it was raining. As I approached the student center I was told by a security guard that the tutoring lab was located on the third floor. I had walked up three flights of stairs. When I had finally reached the third floor,I walk into the tutoring lab. There were about eight tables, but only four staff members and one student. Amen had approached me asking what did I need help with today. I replied saying that I would like some feedback on my paper for English. He then pointed to the writing table and said “she can assist you with your paper”.
In the past half month, I did the research and read many paper on the prestigious journals about 2008 crisis. Thus, I must be the best person to present you the 2008 crisis.
The financial crisis occurred in 2008, where the world economy experienced the most dangerous crisis ever since the Great Depression of the 1930s. It started in 2007 when the home prices in the U.S. Dropped significantly, spreading very quickly, initially to the financial sector of the U.S. and subsequently to the financial markets in other countries.
If financial markets are instable, it will lead to sharp contraction of economic activity. For example, in this most recent financial crisis, a deterioration in financial institutions’ balance sheets, along with asset price decline and interest rate hikes increased market uncertainty thus, worsening what is called ‘adverse selection and moral hazard’. This is a serious dilemma created before business transactions occur which information is misleading and promotes doing business with the ‘most undesirable’ clients by a financial institution. In turn, these ‘most undesirable’ clients later engage in undesirable behavior. All of this leads to a decline in economic activity, more adverse selection and moral hazards, a banking crisis and further declining in economic activity. Ultimately, the banking crisis came and unanticipated price level increases and even further declines in economic activity.
This paper provides an overview of the crisis, outlines the major causes of the crisis, examine alternative solutions to the problem
Introduction A financial crisis is a period of monetary capital shortages where an individual, corporation or nation cannot get enough money to finance necessary spending. The world has seen a number of financial crises hit different regions of the world. Examples of these include the Mexican financial crisis, the Asian financial crisis of 1997 and the most recent global financial crisis of 2008. In all these crises, lessons are learnt.
In a nutshell, debt crisis should be treated immediately with actions such as providing sufficient training and courses, improving individual’s personal finance skill, and filtering the recruiting of employees’ process in order to prevent it from extent. The upcoming generations should have given more awareness towards this issue. If no immediate actions are taken, I believe in future the debt crisis will get worse.
Financial crises have influenced the os of financial markets in past. The most important the Great Depression in 1929-30, the 1970s inflation failures and the banking difficulties in the 1990s led to problems in the financial markets causing serious disturbance. The recent financial crisis which became known in 2007, though the roots were implanted much earlier, has been the worst situation financial markets have ever faced.
...could stimulate its economy. This would benefit poor countries as well. Since developed countries stabilized energy prices, food prices in underdeveloped countries would not rise. Thus, people living in poor countries could purchase food, and survive. When wealth countries are solving energy crises, they are also saving millions living in the poor countries.
...nces discussed above. Right now, the global economic is recovering, but the study of reasons of the crisis still teaches many countries a lesson on how to build a solid financial system and how to deal with other macroeconomic problems.
“Money makes the world go round.” We all heard of this quote, because it’s true. With money almost anything can be achieved. From bail to bribery to even hiring assassins. But what can, or should, this money be used for? Are more developed nations obligated to provide development assistance to other nations? My answer is that I “somewhat disagree”.
Why Nations Fail takes an in depth look into why some countries flourish and become rich powerful nations while other countries are left in or reduced to poverty. Throughout this book review I will discuss major arguments and theories used by the authors and how they directly impact international development, keeping in mind that nations are only as strong as their political and economical systems.